Glossary
This section will cover some of the terminology you'll see throughout our new ROI Reporting Experience.
Automation Summary
The different types of Automation considered for your ROI reporting with Parade can be found below.
Digital Booking [100% Automation]
This type of Automation happens when Parade sourced the carrier via Load Boards, CoDriver, private portal, dispatch campaigns, or other integrated sources, acquired the Rate from the carrier, and closed the load booking with no human intervention.
One example could be:
Load is created on Parade, and sent to all integrated Loadboard.
Carrier sees your load, and accesses your Load Posting on Parade via a Loadboard redirect.
Carrier books the load directly at your Book Now Price by clicking the "Book Now" button with Parade's Private portal .
Parade communicates with your TMS to cover the load, assign the carrier, and generate the Rate Confirmation .
The load coverage process is finished with no manual action being performed by your Reps.
Digital Tender [100% Automation]
Digital Tenders include loads Loads that are automatically booked within a routing guide set up using Parade data to identify carriers and lanes.
Examples include:
Carriers booking loads via Cascade Smart Lanes emails;
Carriers being assigned to your loads via an Auto Assignment Cascade configuration.
Carriers accepting a Digital Offer book now price from your Smart Lanes setup.
Digital Assist [75% Automation]
Digital Assists are automated loads that required some level of manual intervention in specific points of the process. These are caused by:
Quote Conversion: The carrier is assigned for the originally quoted amount. This implies the booking required no negotiation, and the rep only needed to confirm.
Unsuccessful "Book Now" Due to Technical Error: The carrier ended up on the load, but a rep had to manually complete the booking.
One example could be:
Your load is created on Parade, and sent to all integrated Loadboards using your CoDriver address as the posting email.
Carrier reaches out to your CoDriver email address, starting a conversation.
After sharing load information, CoDriver extracts a quote from the carrier in the conversation.
One of your Reps counters said quote within Parade's UI using CoDriver Counter Quote Feature.
The carrier then accepts the proposed price in the CoDriver Conversation, leading to a booking.
Parade communicates the booking to your TMS and generates a Rate Confirmation email for your Carrier with no human intervention.
Digital Assist with Manual Negotiation [50% Automation]
This is considered when Parade sourced a carrier via Load Boards or other available methods and extracted a quote, but the rate was negotiated and confirmed by a carrier representative.
One scenario could be the same as exemplified above, but with manual negotiation by the involved carrier representative, instead of automating the process via CoDriver Counter Quotes.
Digital Quote [25% Automation]
This happens when Parade extracts a quote for your load from a Carrier, but the carrier decides not to book the load. Examples include quotes made on loads that were posted on loadboards via Parade, but that ended up not being covered by our systems.
Parade Customer Automation Benchmarks
You can now see how your brokerage stacks up to other Parade customer across all your loads. . We use these metrics to understand which Parade features represent your strengths and which features there are opportunities for growth.
We provide benchmarks against all automation types in both the ROI Snapshot and Platform Performance dashboards.
Time Savings from Parade
Quote Disqualified:
Parade evaluates each carrier quoting on your loads to confirm their eligibility to work with your brokerage using integrations with RMIS, RMCP, and Highway. This saves your broker reps an estimated 3 minutes per quote due to not having to manually search carrier results by DOT and MC Numbers.
Automated CoDriver Conversations:
Parade automates inbound load inquiries via email by vetting carrier eligibility, negotiating, and extracting quotes. This saves your broker reps an estimated 10.4 minutes per conversation. Learn more in the CoDriver reporting page.
Time saved for CoDriver:
Context Switching: 4 minutes;
A study by the University of California, Irvine found that it takes an average of 23 minutes to fully refocus after an interruption. While broker tasks are more rapid-fire, even quick switches eat into productivity. We conservatively estimate 4 minutes lost to context switching per conversation.
System Navigation: 2 minutes;
Brokers often juggle multiple systems - CRMs, load boards, compliance databases, and communication tools. Navigating between these can easily consume 2 minutes per interaction.
Information Lookup: 2 minutes
Verifying carrier credentials, checking availability, and confirming load details across various platforms takes time. We estimate an average of 2 minutes per conversation for these essential but time-consuming tasks.
4. Communication Lag: 2 minutes
The back-and-forth nature of email or phone conversations introduces natural delays. Waiting for responses or playing phone tag easily adds 2 minutes to each interaction.
Margin Leakage
Margin leakage occurs when Parade generated a quote from a qualified carrier within your network, but a broker rep booked the load with a different carrier at a higher rate.
This difference - between the quote price received on Parade, and the higher price manually booked by a carrier Rep outside of Parade - is what we consider Margin Leakage, and it can be reduced by increasing carrier rep activity in Parade UI or turning on our Auto Accept Under Max feature.
You can also find more information about your Quotes in the 'Quoting Section' in Platform Performance Reporting.